Pakistanis received Rs 102b as gifts from overseas

Senate standing committee informed by the Federal Board of Revenue (FBR) on Tuesday that 2500 Pakistanis have received gifts worth Rs102 billion from their overseas relative in the previous fiscal year.

Officials of revenue informed senators that persons, who received gifts from overseas have been marked and notices have been served to them as these persons may be guilty of fleecing.

The FBR said that as many as eight individuals declared gifts worth between Rs1 bn and Rs500 million. Similarly, 97 individuals declared gifts worth between Rs500 million and Rs200 million. Meanwhile, 97 people declared having received gifts worth Rs200 million to Rs100 million, while 280 individuals declared gifts of between Rs100m and Rs50m in their wealth statements. Similarly, 2,348 people declared gifts worth Rs50 million to Rs10 million.

Upon cases registered under anti-money laundering law, official apprised members that monetary unit of State Bank of Pakistan (SBP) had forwarded over 200 cases to FBR and investigation into the matter was underway. Standing committee summoned details of all such cases.